EUR/JPY Technical Analysis: Rebounds from support line. Scope for a visit to 132.00

• After testing/piercing the critical support line and find contention in the 129.00 neighbourhood, the cross met some fresh buyers and is now clinching its second consecutive day with gains near 131.00 the figure.
• In the meantime, the cross keeps the constructive stance unchanged while above the mentioned support line and the daily cloud.
• On the opposite direction, a break below recent lows in the 129.00 area could allow for a probable visit to the 124.60 area, or May’s lows.

EUR/JPY daily chart

Daily high: 131.16

Daily low: 129.69

Support Levels

S1: 129.47

S2: 128.96

S3: 128.64

Resistance Levels

R1: 130.29

R2: 130.61

R3: 131.12